Remittances (Baroda Money Express)

Business relations get strengthened and add to the trust when financial dealings happen on time. The Bank of Baroda remittance facility expedites payments and transfer of funds, saving you and your associates from waiting endlessly for funds to get credited.

Key Benefits

Can be used to transfer money to the beneficiary's account in the same bank, or another bank or even to their residential/office address, thus offering convenient options.

This electronic remittance is the fastest way of transferring money from one place to another, at no additional cost.

Added convenience of hassle free and quick customer service.

The facility is available at 345 branches across 53 centres in India inclusive of all branches in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Mumbai, and Pune.

Banker's Cheque

Issued by the Bank to customers for making local payments like payment of telephone / electricity bills, payments to other accounts in other banks etc.

Banker's Cheques are negotiable instruments payable to order and attract all provisions applicable to an order cheque and are valid for six months from the date of issue and in genuine cases may be revalidated.

Demand Draft

The most common paper based mode of funds transfer.

A DD is a negotiable instrument and is made payable to order of the beneficiary.

The DD is valid for six months from the date of issue and in genuine cases may be revalidated (only once not more than one year from the date of issue).

The draft issued by the Bank is equivalent to its promissory note.

Mail Transfers

Mail Transfers (MTs) are issued by any of the branches of our Bank for transfer of funds between branches through the medium of post offices either for credit of an account holder or for payment to a certain beneficiary.

The issuing branch directly sends the mail transfer to the drawee branch on the same day by Post.

For late receipt / credit of mail transfers Bank will pay interest @2% more than the prevailing Savings Bank deposit rate of interest for the delayed period (if it amounts to Rs.5/- or more), irrespective of whether the proceeds of the mail transfer are meant for credit to Current / Savings Bank / Fixed Deposit / Borrow Accounts and also whether delay occurs in postal transit / due to misplacement etc.

Telegraphic Transfers

Telegraphic Transfers (TTs) are made out for expeditious (either on the same day or on the next day) transfer of funds between almost all our major branches for credit or payment to a beneficiary by telegram / telex / fax.

Telegraphic Transfer messages conveying transfer of funds by fax can be considered for valuable clients (conditions apply).